{"id":6243,"date":"2026-06-29T07:38:42","date_gmt":"2026-06-29T07:38:42","guid":{"rendered":"https:\/\/bhatiabhola.com\/?p=6243"},"modified":"2026-06-29T07:38:44","modified_gmt":"2026-06-29T07:38:44","slug":"rbi-master-directions-407-2026-dated-25-06-2026-rbi-credit-derivatives-directions-2026","status":"publish","type":"post","link":"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/29\/rbi-master-directions-407-2026-dated-25-06-2026-rbi-credit-derivatives-directions-2026\/","title":{"rendered":"RBI Master Directions 407\/2026 Dated 25\/06\/2026 &#8211; RBI Credit Derivatives Directions 2026\u00a0"},"content":{"rendered":"\n<p>The Directions introduce a comprehensive regulatory regime governing Credit Default Swaps (CDS), Total Return Swaps (TRS), exchange-traded credit derivatives, and futures on credit indices. It prescribe eligibility criteria for market-makers and users, classify participants into retail and non-retail categories, specify permissible products, reference assets, settlement methods, reporting obligations, prudential norms, and customer protection measures. It also permits participation by eligible Foreign Portfolio Investors (FPIs) subject to prescribed limits and conditions, while establishing a Credit Derivatives Determinations Committee under FIMMDA to decide credit events and settlement matters.\u00a0<\/p>\n\n\n\n<p><a href=\"https:\/\/rbidocs.rbi.org.in\/rdocs\/notification\/PDFs\/407MD23637C77AC6742318BC8906ED8B98BEC.PDF\"><em>(RBI Master Directions 407\/2026 Dated 25\/06\/2026)<\/em><\/a><em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Directions introduce a comprehensive regulatory regime governing Credit Default Swaps (CDS), Total Return Swaps (TRS), exchange-traded credit derivatives, and [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[72,102],"tags":[],"class_list":["post-6243","post","type-post","status-publish","format-standard","hentry","category-rbi","category-master-directions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RBI Master Directions 407\/2026 Dated 25\/06\/2026 - RBI Credit Derivatives Directions 2026\u00a0 - Bhatia Bhola &amp; Associates LLP<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/29\/rbi-master-directions-407-2026-dated-25-06-2026-rbi-credit-derivatives-directions-2026\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBI Master Directions 407\/2026 Dated 25\/06\/2026 - RBI Credit Derivatives Directions 2026\u00a0 - Bhatia Bhola &amp; Associates LLP\" \/>\n<meta property=\"og:description\" content=\"The Directions introduce a comprehensive regulatory regime governing Credit Default Swaps (CDS), Total Return Swaps (TRS), exchange-traded credit derivatives, and [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bhatiabhola.com\/index.php\/blog\/2026\/06\/29\/rbi-master-directions-407-2026-dated-25-06-2026-rbi-credit-derivatives-directions-2026\/\" \/>\n<meta property=\"og:site_name\" content=\"Bhatia Bhola &amp; 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